Contrarian Stock Market Investing News - Featuring Bargain Stocks » OZN http://www.contrarianprofits.com Access market-beating ideas from the world's top investment gurus on stock market investing, the gold market, ETFs, Forex trading and real estate values. Tue, 24 Nov 2009 09:24:40 +0000 http://wordpress.org/?v=2.8.5 en hourly 1 Resource Stock Roundup: Friday, December 12th, 2008 http://www.contrarianprofits.com/articles/resource-stock-roundup-friday-december-12th-2008/10039 http://www.contrarianprofits.com/articles/resource-stock-roundup-friday-december-12th-2008/10039#comments Fri, 12 Dec 2008 19:59:21 +0000 Doug Casey http://www.contrarianprofits.com/?p=10039 The biggest proposed leveraged buyout in Canadian history has finally come to an end, with telecom giant BCE failing to met the solvency requirements. The collapsed deal, plus problems with a bailout of the auto sector in the United States, put a damper on the big board stocks during Thursday trading on the Canadian markets. For the tale of the tape, the TSX Exchange slumped 2.8%, while the TSX Gold Index gave back 3.4% and the TSX Venture Exchange, Canada’s largest junior exploration bourse, added 1.12% with the advancing issuers beating out the decliners by a 424 to 416 margin on volume of 238 million shares traded.

Iamgold (NYSE:IAG) went shopping and picked up Orezone Resources (AMEX:OZN) in an all stock…

]]> The biggest proposed leveraged buyout in Canadian history has finally come to an end, with telecom giant BCE failing to met the solvency requirements. The collapsed deal, plus problems with a bailout of the auto sector in the United States, put a damper on the big board stocks during Thursday trading on the Canadian markets. For the tale of the tape, the TSX Exchange slumped 2.8%, while the TSX Gold Index gave back 3.4% and the TSX Venture Exchange, Canada’s largest junior exploration bourse, added 1.12% with the advancing issuers beating out the decliners by a 424 to 416 margin on volume of 238 million shares traded.

Iamgold (NYSE:IAG) went shopping and picked up Orezone Resources (AMEX:OZN) in an all stock deal valued at C$139 million. Of interest to Iamgold is the advanced Essakane project in West Africa where full production is expected to begin in 2010. Iamgold ended the day down C$0.22 at C$5.88, while Orezone added C$0.345 to close at C$0.52.

Meanwhile, Avion Resources tagged 26.94 grams gold per tonne over 16.9 metres at its Tobakoto property in Mali. Avion ended the day up C$0.02 at C$0.07.

Shares of Rubicon Minerals (AMEX:RBY) added C$0.18 to close at C$1.18 after the company reported that a step out hole yielded 3,151.1 grams gold per tonne over 0.5 metre at its Phoenix property in Ontario.

Victoria Gold cut 16.75 grams gold per tonne over 29.6 metres on the Helen zone of its Cove project in Nevada. Shares in the company were halted from trading pending the news at C$0.20.

The junior market bucked the negative tone by posting a winning session. It looks like some investors finally stepped up to the plate to buy the undervalued exploration companies. We will see what Friday trading has in store.


Source: Resource Stock Roundup: Friday, December 12th, 2008

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